Social activity platform Friend Trip revealed on the 17th November that it had received US$1.2m (KRW 1.5b) in new investment. This is the second investment for the company and follows a US$500l (KRW 500m) last June. Friend Trip commenced as a startup with the aim of creating an innovative approach to interacting with leisure and travel culture. The platform delivers on this objective by creating a communication platform connecting new people based on activity interests. Since launching the service, memberships have doubled on a monthly basis.
Activities offered range from sports categories including hiking, running and cycling; leisurely activities; paragliding, scuba diving and surfing; to leather craft and beer making. The diversity in activities allows everyone to find an interest and provides a cultural experience. The platform also provides fresh content from the likes of ‘Impact Run’ of Women’s Day, ‘Forest Run’, and activities that are of value to society.
The app is expected to release a major update in January which will provide an updated look with additional features.
Driving the success of Friend Trip and the investment are impressive personnel from both Friend Trip and from the Investor. Lim Soo Il, the Director of Friend Trip graduated from KAIST and gained his business acumen working at Groupon Korea. Jo Jin Hwan the Director of K Cube Ventures is also a KAIST graduate who gained his experience with Boston Consulting Group. Kim Jong Gyun graduated from KAIST and worked for Devsisters as the development team leader.
Lee Seung Ho who lead the investment from Hana financial Investment commented, “Friend Trip is Korea’s leading activity platform and it is expanding rapidly. In particular, we see great potential to take this platform globally similar to AirBnB”.
Lim Soo Yeol from Friend Trip said, “We will use the investment to broaden the cultural activities and further provide a platform that engages total lifestyle, body, mind and health”.
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